SAN FRANCISCO (Standard&Poor's) Sept. 30, 2010--Standard&Poor's Ratings Services affirmed its 'AAA' rating on Washington State Housing Finance Commission's multifamily housing revenue bonds, series 2000A and 2004, issued on behalf of the Burke-Gilman Place Apartments Project, and removed the rating from CreditWatch with negative implications. The bonds are backed by a mortgage loan that is secured by a Ginnie Mae mortgage-backed security. On May 12, 2010, we placed our ratings on certain housing issues, including this rating, on CreditWatch with negative implications due to revised criteria for certain federal government-enhanced housing transactions. Our revised criteria affect government-enhanced housing transactions where funds are invested in money market funds and other investments with no guaranteed rate of return. Standard
